Business
Issue of Equity
Issue of Equity.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 0439G Rare Earth Minerals PLC 05 May 2011 \n\n05 May 2011\n \nRare Earth Minerals plc\n(\"The Company\")\n \nEquity Placement\n \nRare Earth Minerals plc (AIM: REM) the rare earth minerals and metals projects investment company is pleased to announce that it has raised gross proceeds of £2.1 million in a placing to institutional investors of 300 million new ordinary shares of 0.01p each in the Company at 0.70p per share (\"Placing Shares\").\n \nThe Company has received legally binding acceptances in respect of the Placing Shares. Once all the funds have been cleared the placing will be completed and the Company will make an announcement of the issue of the Placing Shares and their date of admission to AIM which is expected by 27 May 2011 . The Placing Shares will rank pari passu in all respects with the Company's existing ordinary shares in issue. \n \nThe funds raised will be used for further near term investment opportunities and working capital.\n \nDavid Lenigas, Rare Earth Mineral's director, commented;\n \n\"The Company is concluding its first rare earth elements deal in Canada and these funds will be used to seek further investments in the rare earth's space.\"\n \nFor further information please contact:\n \n\n\n\n\nRare Earth Minerals plc \n\n\n\n\n\n\n\nDavid Lenigas\n\n\n+44 (0) 207 440 0647\n\n\n\n\nRichard Griffiths\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nW.H. Ireland\n\n\n\n\n\n\n\nJames Joyce\n\n\n+44 (0) 207 220 1666\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END IOELLFESELIEIIL \n ","length":4141,"tagName":"div"}]